Applied Materials (NASDAQ:AMAT) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.87-0.95 for the period, compared to the Thomson Reuters consensus estimate of $0.75. The company issued revenue guidance of $3.95-4.25 billion, compared to the consensus revenue estimate of $3.71 billion.
A number of research firms have recently weighed in on AMAT. Nomura upgraded shares of Applied Materials from a neutral rating to a buy rating and increased their target price for the stock from $40.00 to $68.00 in a report on Friday. Goldman Sachs Group lowered shares of Applied Materials from a buy rating to a neutral rating in a report on Monday, July 22nd. KeyCorp raised their price objective on shares of Applied Materials from $54.00 to $70.00 and gave the stock an overweight rating in a report on Friday. Credit Suisse Group restated an outperform rating on shares of Applied Materials in a report on Friday. Finally, DA Davidson raised their price objective on shares of Applied Materials to $55.00 and gave the stock a positive rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $62.32.
NASDAQ:AMAT opened at $62.06 on Friday. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. Applied Materials has a 12 month low of $28.79 and a 12 month high of $62.92. The company has a 50 day simple moving average of $53.25 and a two-hundred day simple moving average of $47.33. The company has a market cap of $52.76 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 3.46 and a beta of 1.66.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company earned $0.97 EPS. Applied Materials’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts forecast that Applied Materials will post 3.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.35%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s payout ratio is currently 27.63%.
In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total value of $1,297,213.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,945 shares of company stock worth $2,776,105. Corporate insiders own 0.44% of the company’s stock.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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